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Bitcoin nears $86,000 amid job growth slowdown
Bitcoin experienced a rise above $85,000 after approaching the $87,000 mark before pulling back slightly. This reflects the impact of weak U.S. labor market data and expectations that interest rates may not be raised in October. U.S. employers added 29,000 jobs in September, significantly below expectations, increasing the likelihood that the Federal Reserve will hold interest rates steady and reducing prospects for monetary tightening. This supported risk-sensitive assets like Bitcoin. Meanwhile, with 10-year bond yields fluctuating between 5.17% and 5.28%, pressure remained on cryptocurrencies and high-risk assets overall.
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